Santelli All Over US Annihilation Risk

Anti-bailout Spartacus Rick Santelli reporting something our readers knew on Friday of last week, namely that US CDS has now passed 100 bps. Granted, on Friday the bid was 95, and has since moved wider to past 100, implying the mid is around 105. US CDS has in fact blown out wider than Japan, Germany and France, meaning the market perceives the US sovereign risk as greater than all of these countries.

For reference here are the G7 closing CDS levels from last night courtesy of Markit.